The universal demand for cement has grown steadily in the past decades as global construction activities gain momentum. Reports created by MRFR detail the developments in the industry that can be expected in the market through the forecast period. The market is projected to record a 6.2% CAGR in the forecast ending in 2030.
The development of infrastructural plans in several developing countries is estimated to create optimistic traction for the cement market share. Moreover, robust investment schemes directed at the expansion of the cement production capacity is predicted to further promote global cement market development.
Competitive Leaderboard:
The central contenders in the cement market are HeidelbergCement AG (Germany), CEMEX S.A.B. de C.V. (Mexico), Titan Cement (Greece), Votorantim (Brazil), Wonderful Sky Financial Group Limited (China), LafargeHolcim (France), BBMG Corporation (China), Anhui Conch Cement Company Limited (China), sunnsy (China), Mitsubishi Materials Corporation (Japan), SCG (Thailand), Aditya Birla Management Corporation Pvt. Ltd (India), InterCement (Brazil), TAIHEIYO CEMENT CORPORATION (Japan), and Shree Cement (India).
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Segmental Analysis
The segmental investigation of the cement market is carried out on the basis of type, end-use, and regions. The type segment of the cement market consists of Portland cement and others. The widespread use of Portland cement in all generic types of construction purposes is a notable driver for the segment. The Portland cement segment can be divided further based on its physical and chemical properties. The end-user segment of the cement market is segmented into commercial construction, residential construction, and infrastructure. The commercial construction segment is likely to control the global cement market in the forecast period. The regional segment of the cement market comprises of the Asia Pacific, the Middle East, Europe, Latin America, North America, and Africa.
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Regional Analysis: The regional examination of the cement market comprises of the Asia Pacific, the Middle East, Europe, Latin America, North America, and Africa. The presence of China and India as major cement producers in the Asia Pacific region led the region to hold the largest segment for the international cement market in 2018 and is anticipated to be the speediest mounting region in the forecast period. As there is an elevated demand for cement in the region with the US contributing heavily to the use of cement in the region, the North American region controlled the second major segment owing to an active infrastructural and commercial segment. The presence of excellent limestone reserves and proximity to more important markets such as Canada and the US sare encouraging the cement regional market growth. The speedy industrialization and urbanization reinforced by the government of the region are compelling factors for the advancement of cement in the region. The European cement market due to the stringent standards relating to regulatory, legal, and environmental aspects that back the approval of cement as a binder for dissimilar purposes owing to cement being less damaging to the environment and cost-effective over the other binding agents. The cement market of the Latin American region contributes a strong share in the global market, with countries such as Mexico and Brazil that are leading the charge for regional market progress.
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